Big data analytics helps in analyzing a huge set of data whereas IoT is about data, devices and connectivity. Internet of Things (IoT) involves connecting physical objects to the Internet to build smart systems and universal mobile accessibility advanced technologies like Intelligent Transportation System (ITS). IoT solutions are playing a major role in driving the global IoT in Intelligent Transportation System. Communication between vehicles using IoT will be a new era of communication that leads to ITS. IoT is a combination of storing and processing sensor data and computing using data analytics to achieve and assist in managing the Traffic system effectively. IoT based Intelligent transportation system (IoT-ITS) helps in automating railways, roadways, airways and marine which enhance customer experience about the way goods are transported, tracked and delivered. A case study on Intelligent Traffic Management System based on IoT and big data, which will be a part of, smart traffic solutions for smarter cities. The ITS-IoT system itself forms an eco-system comprising of sensor systems, monitoring system and display system. There are several techniques and algorithms involved in full functioning of IoT-ITS. The proposed case study will examine and explain a complete design and implementation of a typical IoT-ITS system for a smart city scenario set on typical Indian subcontinent. This case study will also explain about several hardware and software components associated with the system. How concepts like Multiple regression analysis, Multiple discriminant analysis and logistic regression, Cojoint analysis, Cluster analysis and other big data analytics techniques will merge with IoT and help to build IoT-ITS will also be emphasized. The case study will also display some big data analytics results and how the results are utilized in smart transportation systems.